Targeted Genetics restructures $10.7M in Biogen debt

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Targeted Genetics Corp.
TGEN, -1.83%
said Thursday that it has agreed to restructure the repayment of $10.7 million in debt that was due over the next year to Biogen Idec Inc.
BIIB, -3.28%
Under the amended agreement, Targeted Genetics paid $2.5 million of the outstanding debt on Thursday, and agreed to make additional payments of $3.1 million in August 2007 and $2.5 million in each of August 2008 and August 2009.

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